Lennar, American Tower And A Social Media Giant On CNBC's 'Final Trades'

Author: Avi Kapoor | May 16, 2024 08:41am

On CNBC's “Halftime Report Final Trades,” Stephen L. Weiss of Short Hills Capital Partners said Meta Platforms, Inc. (NASDAQ:META) still has some catching up to do as the stock was over $500 before the company announced its earnings.

Meta Platforms is launching a separate, third-party fact-checking program for its social media platform Threads.

Head of Instagram Adam Mosseri announced Tuesday night that the platform “recently rolled out the ability for our third-party fact-checking partners to review and rate false content on Threads."

Kari Firestone of Aureus Asset Management picked American Tower Corporation (NYSE:AMT) as the cell tower business is strong.

On April 30, American Tower reported fiscal first-quarter 2024 revenue growth of 2.4% year-on-year to $2.834 billion, beating the consensus estimate of $2.795 billion. AFFO per share attributable was $2.79, up by 9.8% Y/Y and against the consensus of $2.54.

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Joseph M. Terranova of Virtus Investment Partners named Lennar Corporation (NYSE:LEN) as his final trade.

On March 13, Lennar posted mixed financial results for its first quarter. The company posted GAAP earnings of $2.57 per share, versus market estimates of $2.23 per share. The company's quarterly sales came in at $7.310 billion, versus expectations of $7.388 billion, according to data from Benzinga Pro.

Price Action:

• Meta shares rose 2.1% to close at $481.54 on Wednesday.
• American Tower gained 2.7% to settle at $192.02 during Wednesday's session.
• Lennar shares rose 5.3% to settle at $170.85 on Wednesday.

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Posted In: AMT LEN META